(iChinaStock News）May 20, Beijing, This morning, the CEO of e-commerce retailer 360buy (Jingdong Mall), Qiangdong Liu, announced a new revenue share plan for books on his Sina Weibo microblog account. This very public announcement may have repercussions for 360buy's competitors in e-commerce, including Dangdang (NYSE: DANG).

The new plan includes three points: 1) 360buy will share 3% of sales revenue directly with authors; 2) 360buy promises to pay suppliers of books in half the time that it takes Dangdang; and 3) Qiangdong Liu will personally donate RMB 1 million to the Rights League to combat piracy. Liu also stated that a major acquisition and investment projects would be announced shortly. After 360buy launched its book channel in November 2010, Qiangdong Liu set off a price war with competitor Dangdang, running a promotional campaign that touted 360buy's low prices and the claim that its book and video departments will pass 100% of profits on to consumers for their first three years in operation.